Billionaire Ken Griffin Buys Historic Cottage From City of Miami as Part of His Quest To Own a Full City Block

Billionaire hedge fund manager Ken Griffin now controls a full city block in Miami’s desirable Brickell financial district following a unanimous vote by the City of Miami Commission to approve the sale of a historic site to the Citadel CEO.The nearly $3 million transaction centers on the land beneath the historic James Jackson Cottage, which was constructed in 1905.For decades, the city-owned property has functioned as the headquarters for the Dade Heritage Trust, a prominent local historic preservation nonprofit. As a part of the deal, Citadel agreed to gift the cottage to the trust and pay for the relocation and maintenance of the property.Griffin’s pursuit of the land coincides with his plans to build a 54-story global headquarters for Citadel in the neighborhood. Over the past several years, he's been amassing property along the same stretch.In 2022, he purchased the 2.5-acre property at 1201 Brickell Bay Drive for $363 million. Earlier this year, he purchased Solaris, a 22-story condominium property on the same block, after buying up the individual units in the building one by one for a reported $125 million.His plan is to demolish the building and other properties to build a ...